Asian Tech Press (Dec 08) -- According to media reports, Stellantis, the world's fourth-largest automaker, announced that it had signed a memorandum of understanding with Foxconn to collaborate on semiconductors.

Stellantis and Foxconn plan to design four series of dedicated semiconductors in the future to support the development of Stellantis and third-party customers.

The dedicated semiconductors developed in collaboration with Foxconn will meet most of Stellantis' automotive semiconductor needs, said Stellantis CEO Karlos Tavares. The four series of chips planned to be developed in collaboration will meet 80% of the compant's semiconductor needs.

In addition to meeting most of their needs, Carlos Tavares believes that their partnership with Foxconn will help them modernize their components, reduce complexity, and streamline their supply chain, helping to accelerate their ability to innovate and build products and services.

Regarding the cooperation between the two companies, Foxconn Chairman Yangwei Liu said that as a global technology company, Foxconn has deep experience in semiconductor manufacturing and software. They also hope to cooperate with Stellantis to deal with long-term supply shortages.